Bed Bath & Beyond Inc. is preparing to file for bankruptcy within weeks after the home-goods retailer came up short on sales during the critical holiday season, the Wall Street Journal reported. The retailer is in the early stages of planning for a chapter 11 bankruptcy filing and the discussions could extend into February, these people said. Bed Bath & Beyond warned earlier Thursday that it might file for bankruptcy protection and that it has substantial doubt it can stay in business after enduring another quarter of deep losses and slumping sales. Bed Bath & Beyond stock closed down 30% on Thursday at its lowest level in decades after the company said it was running low on funds and considering several options, including seeking relief in bankruptcy court. It said that sales for its third quarter, which ended in November, are expected to fall by nearly a third and that losses are expected to widen nearly 40% to $385.8 million.
